![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdaVUM10g2GoAu6FLScHZurWMeCnnSOPBL095-hqiJk2fQoikwjz3EW-RIgMlZ7DWb82OJtASYjH52BSBxAlNSpSYjBE7hSzlIoN4sX02fiKBYA9Ok-6rlMAfX9qb1t249fc2d/s400/ES112609.gif)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjV-_zVagXX5wWUhSlVicc3VCe1WxKGRbT-URGifIHZvUsxXZVDTUJOsIsoVMxCUpTRi0FpMj0Ez_wuI2Bm7wxz2y1JSlrmacM7e0LKHdaH18-tp_qSH-0gN6mdksIcnnXEgAIb/s400/NQ112609.gif)
The S&P 500 e-mini (ES) futures (top chart) and the NASDAQ 100 (NQ) futures (bottom chart) have moved back into their October ranges, on the heels of reports concerning a delay in debt payments by Dubai World. On the heels of multiple non-confirmations that accompanied recent price highs in November, I will be watching closely to see if we take out the late October lows in such indicators as new highs/lows and advance/decline line. Also worth watching is the U.S. dollar, which may become a relative safe haven in the event of concerns regarding emerging market debt.
.